Bajaj Chetak to Introduce New Variant Soon

Key Highlights:

• Bajaj set to launch more affordable Chetak variant amidst competition.
• Strong Q4 performance reflects Bajaj's growth trajectory and resilience.
• Bajaj expands lineup, introducing CNG motorcycle, catering to sustainability.

Bajaj Auto is all set to introduce a new, more affordable variant of its popular e-scooter, the Chetak. With increasing competition in the electric scooter segment, particularly after the expiration of the FAME-II subsidy on March 31, Bajaj aims to capture a larger market share by catering to the demand for more affordable options.

Expanding Product Lineup

In addition to the upcoming Chetak variant, Bajaj has been actively and continuously expanding its product lineup. Recently, the company introduced the 2024 version of Pulsar N250, with plans to launch the Pulsar NS400, touted as the "biggest Pulsar ever," on May 3, 2024.

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Robust Performance in Q4 FY24

Bajaj’s strong performance in the domestic market during Q4 FY24 has proved its growth trajectory in a positive way. With total revenue surging to Rs. 11,555 crore in the quarter ended March 2024, the company has demonstrated its resilience and adaptability in response to evolving market dynamics. Furthermore, Bajaj's foray into clean fuel technologies, such as the upcoming launch of a CNG motorcycle, reaffirms its commitment to sustainability and innovation.

Introduction of Bajaj CNG Motorcycle

In line with its focus on clean fuel solutions, Bajaj is set to roll out a CNG motorcycle targeted at mass-market buyers seeking high mileage. The phased introduction of this motorcycle in cities with robust CNG infrastructure reflects Bajaj's strategic approach to expanding its product portfolio while addressing environmental concerns.

Chetak New Variant: Affordable and Accessible

The new variant of the Bajaj Chetak will be positioned under the Urbane variant, offering affordability without compromising on quality and performance. Expected to be priced at under Rs 1 lakh (ex-showroom), Chetak variant will benefit from the Electric Mobility Promotion Scheme 2024 subsidy, effective from April 1 to July 31, 2024. With a smaller battery size and a hub motor, this variant is expected to appeal to a wider audience of budget-conscious consumers.

Market Competition and Positioning

In the market of electric scooters, Bajaj Chetak currently faces competition from models like TVS iQube, Ola S1, and Ather 450S. However, with its reputation for reliability, performance, and affordability, Bajaj aims to consolidate its position as a preferred choice among consumers.

CarBike360 Says

The strategic initiative of updating the previous models and at the same time introducing new models, Bajaj Auto has showcased its commitment to meet the consumers needs and drive innovation in the Indian two-wheeler market.